# Federal Register #SR-NASDAQ-2026-088

SEC notice on Nasdaq proposed trading halt and opening procedures for certain ETPs during 23/5 trading

**Buyer:** Securities and Exchange Commission
**Posted:** October 16, 2026
**Identifier:** SR-NASDAQ-2026-088

This SEC notice covers a proposed Nasdaq rule change for trading certain exchange-traded products during 23/5 trading.
- Government agency: U.S. Securities and Exchange Commission (SEC).
- Proponent: The Nasdaq Stock Market LLC.
- The proposal would amend Nasdaq Equity 4, Rule 4120 to set procedures for halting and opening trading in certain exchange-traded products (ETPs) during 23/5 trading.
  - It applies to newly listed ETPs for which Nasdaq is the primary listing exchange and that do not use the Initial ETP Open process.
  - The proposal provides for a regulatory halt followed by an opening through the Nasdaq Halt Cross.
- The stated purpose is to support fair and orderly markets and investor protection. The SEC is inviting public comments.
- This is a proposed regulatory change, not a procurement; no products or services, quantities, or part numbers are requested.

### Description

The Nasdaq Stock Market LLC proposes to amend Equity 4, Rule 4120 to establish requirements for halting and opening trading in exchange-traded products during 23/5 trading. The proposed changes address newly listed ETPs for which Nasdaq is the primary listing exchange and that do not use the Initial ETP Open process. The filing describes a regulatory halt and opening procedures, including use of the Nasdaq Halt Cross, and states that the changes would become operative when 23/5 Trading commences. The Securities and Exchange Commission notice invites comments on the proposed rule change.

[View original listing](https://www.federalregister.gov/documents/2026/10/16/2026-21137/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)